28-368

28-368. Property acquisition;
definition

A. The director may acquire in the name of this state by gift, grant, purchase,
lease-purchase, condemnation or any other lawful manner real property or buildings that
are necessary, useful or convenient for the use of the department. The director shall
not acquire land or buildings by purchase or condemnation without prior approval of the
joint committee on capital review established by section 41-1251 and without an
appropriation of monies by the legislature for the acquisition.

B. The director may enter into certificate of participation financing arrangements
to provide financing or refinancing for real property or buildings that are necessary,
useful or convenient for the use of the department.

C. A lease-purchase agreement relating to land or buildings under this section
shall provide that:

1. The obligation of this state to make a payment under the agreement is a current
expense of the department, is payable exclusively from appropriated monies and is not a
general obligation indebtedness of this state or the department.

2. If the legislature fails to appropriate monies or the department fails to
allocate the monies for any periodic payment or renewal term of the agreement, the
agreement terminates at the end of the current term and this state and the department are
relieved of any subsequent obligation under the agreement.

3. The attorney general and the joint committee on capital review shall review and
approve the agreement before the lease-purchase agreement takes effect.

D. The attorney general shall review the agreement for compliance with the
constitution and laws of this state. If in the attorney general's opinion the agreement
is in compliance, the attorney general shall append the attorney general's certification
to the agreement and return it to the department. On request by the director, the
attorney general may give other opinions relating to the agreement.

E. The joint committee on capital review shall review and approve a lease-purchase
agreement under this section before the agreement takes effect.

F. The department may covenant to use its best efforts to budget, obtain, allocate
and maintain sufficient appropriated monies to make payments under a lease-purchase
agreement. The agreement shall acknowledge that appropriating state monies is a
legislative act and is beyond the control of the department or of any other party to the
agreement.

G. For the purposes of this section, "certificate of participation financing" means
an installment purchase or lease-purchase agreement that is subject to appropriations and
that is structured to allow investors to receive a portion of the principal and interest
payments made by the department as required by the agreement.